...Negotiating Rationally Negotiating rationally – By Bazerman, Max H.; Neale, Margaret A., Free Press, New York, 1992, ISBN13: 978-0029019863, $12.29 paperback. Negotiating Rationally by Bazermann et al. was written at a time when Science about negotiation was fairly recent. Therefore it reviews the literature already existent and also incorporates own experiences, gained during many seminars. The book is full of real life examples which were told or experienced by the author. Bazerman et al. consider the importance of negotiation as growing as the workforce gets more and more mobile, becomes more diverse (gender, age, nationality), the structure of companies is changing and the marketplace becomes global thus a lot more complex. The authors present a framework on negotiating rationally. This framework was developed a decade before writing the book and got intertwined with previous research as well as the experience of teaching Master students. As their Curriculum Vitae reveals, Bazerman as well as Neale specialized in organizational behavior. Bazerman worked on decision making, consumer behavior and negotiating skills. Neale worked primarily on Negotiation sciences but also on conflict management. 2. Summary of the Contents. When looking at the book as a whole, it is divided into three parts. The first part presents seven common so called 'mistakes' in negotiation. The second part introduces a rational framework for negotiation. The last and third part gives advice...
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...acting on any information in this publication. http://unitguides.mq.edu.au/unit_offerings/52041/unit_guide/print 1 Unit guide ECFS895 Private Equity Investment General Information Unit convenor and teaching staff Lecturer (Sydney/Melbourne) Stephane Chatonsky stephane.chatonsky@mq.edu.au Contact via Email Unit Convenor / Lecturer Roger Casey roger.casey@mq.edu.au Contact via Email Credit points 2 Prerequisites (Admission to MAppFin or PGCertAppFin or GradDipAppFin) and ECFS866 Corequisites Co-badged status Unit description This unit uses the principles developed in ECFS866 in the context of private equity investing. The overall structure and dynamics of the industry are discussed and the key issues of assessing, valuing, negotiating, monitoring and exiting private equity investments are dealt with in detail. This unit covers the full spectrum of private equity investments, from venture (seed and start-up) to management...
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...training courses, which integrated the principles of instructional design believed they had improved their negotiating skills and confidence, adapted more integrative conflict management styles, and implemented their newfound skills in important real world negotiations. The researchers claim that the data gained from the experiment enhances the information about the best ways to increase transfer rates for up-and-coming negotiators. The purpose of this research was to explore the efficacy of a semester-long negotiation-training course designed according to the instructional design theory in improving negotiator-perceived skill or ability and post-training confidence. “Given the widespread availability and popularity of negotiation courses at universities researchers can infer that students and their employers believe that such courses are an effective way to learn negotiation strategies and techniques and to improve negotiating skill.” (p. 2/7) The design of the research is qualitative. Data was collected from two samples from surveys. The first sample was taken from a group of 37 graduate students who volunteered for the one-group pretest posttest study. They were administered surveys used to test confidence, skill-building, and negotiating-style hypotheses. The group participated in various simulation exercises that allowed students to practically approach real-world negotiation issues and improve negotiation skills. “Given the widespread availability and popularity of negotiation...
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...impacted on current Chinese business practices, such as guanxi, face saving and so on. Moreover, as a result of influencing by Chinese traditional culture, negotiating process in China and related behaviors must be different from that of the rest of the world. Hence, knowing more about these special knowledge of negotiating in China would help people easier do business in China. As a Chinese student, those business practices that are influenced by Chinese traditional culture are very familiar for me. For face saving, it is exactly the same as the film The Interview by Sony shows that a few Chinese local governments might build a fake everyday-low-price grocery store which looks even better than Wholefoods to make higher level government officer think that the local people are very happy. On the other hand, during my daily life when I was in China, everyone are working on obtaining more guanxi. Guanxi seems like network in American, but it is more practical and interest oriented. For example, if you want to see a doctor, but the queue is so long that you might have to wait for hours. However, you have guanxi with the chief officer of the hospital, then you can skip waiting in line and see the doctor immediately. Besides those general examples of face saving and guanxi, there are some interesting examples about negotiating process and...
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...determined by each of their own emotional world and developmental programs (Drew, 2013). This is what makes up the population of every country in the world. It is one of the many things that makes us all different. When doing business with other countries it is a real gullible state of mind to think that all people in all places all have the same behaviors and ways of doing things. People should not be confused or taken for granted because they wear the same designer jeans, name brand shoes, or even speak the same language as they do. Same scenario when doing business, even more so if that business is to be done in another country or with someone with a different cultural background. Things such as higher levels of sensitivity, being more detail oriented or simple differences like their patterns of behavior can make a huge difference in some other culture (Drew, 2013). If you want to succeed in the cross-cultural business world of negotiations you must completely understand others, and using that knowledge to your advantage to recognize the desires of all parties involved; and then develop a situation that becomes a win-win setting for everyone involved. It is wise to keep in mind, that when doing cross-cultural business, the methods or approaches of the domestic could be different and may not apply if they are not culturally accepted by the other party (Drew, 2013). Some of the most common things you should know before negotiating business with another culture are as follows:...
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...Effective Negotiating Techniques Critical Essay Effective Negotiating Techniques: From Selecting Strategies to Side-Stepping Impasses and Assumptions was written by Nierenberg and Calero and published in The New Art of Negotiating: How to Close Any Deal in 2009. This article was also included as Reading 1.5 in the sixth edition of Negotiation: Readings, Exercises and Cases by Lewicki, Saunders, and Barry. This article provides an excellent overview of negotiation techniques, avoiding impasses, and avoiding the pitfalls of hidden assumptions. This article is written for practitioners that conduct negotiations or plan to conduct negotiations in the future. The authors’ do not provide any reference to the academic literature (or any references at all). The portions of this article that cover negotiation techniques and avoiding impasses seem to provide a very thorough list of techniques, but the description of these techniques is generally limited to only one or two paragraphs. The portion of the article that describes avoiding the pitfalls of hidden assumptions is vague and lacking in substance. In addition, there is a glaring factual error in one of the examples provided by the authors, which may imply that there are other errors in this article. Despite these issues, Nierenberg and Calero (2009) have provided an excellent introductory overview of negotiation techniques and techniques to avoid impasses. This article is excellent reading for those that conduct negotiations...
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...This course is given at the Ecole Nationale Supérieure des Télécommunications (the National Graduate School of Telecommunications in Paris). The three sessions on negotiation are fairly modest in size : 12 hours. I built them around three films. The first one is Le souper (The Supper) where we get an idea of the negotiation between Talleyrand and Fouché a few weeks after Waterloo, when France’s whole future is at stake. The meeting as imagined by the author takes place within the context of a typical French high society dinner at the time. It gives me the opportunity to give an introductory course on negotiation. The second film is Lost in La Mancha, the making-of of Terry Gilliam’s film Don Quichotte. The purpose here is to see how the negotiating spirit and methods can apply to leadership and...
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...nature of Chinese business negotiating style in Sino-Western business negotiations in business-to-business markets involving large industrial projects from a social cultural point of view. Design/methodology/approach – A conceptual approach developed from personal interviews. Findings – This study reveals that the Chinese negotiator does not possess an absolute negotiating style but rather embraces a mixture of different roles together: “Maoist bureaucrat in learning”, “Confucian gentleman”, and “Sun Tzu-like strategist”. The Chinese negotiating strategy is essentially a combination of cooperation and competition (termed as the “coop-comp” negotiation strategy in this study). Trust is the ultimate indicator of Chinese negotiating propensities and role choices. Research limitations/implications – The focus of this study is on Chinese negotiating style shown in large B2B negotiations with Chinese SOEs. Originality/value – Differing from most other studies on Chinese negotiating style which tend to depict the Chinese negotiator as either sincere or deceptive, this study points out that there exists an intrinsic paradox in Chinese negotiating style which reflects the Yin Yang thinking. The Chinese negotiator has a cultural capacity to negotiate both sincerely and deceptively and he/she changes coping strategies according to situation and context, all depending on the level of trust between negotiating partners. Keywords China, National cultures, Negotiating, Management skills, International...
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...four elements of the marketing mix effects the development of Northwood Realty Services marketing strategy and tactics. The reader will find how Northwood Realty Services implements each element of the marketing mix through marketing and research strategies. Northwood Realty Services Northwood Realty Services is a real estate agency established in 1956, serving customers in Eastern Ohio and Western Pennsylvania with 35 offices and 900 agencies within the local areas of the servicing regions (LinkedIn Corporation, 2011). Northwood Reality Services commitment to their customers is to ensure that buying and selling a home is more rapid, easier and a rewarding experience without the worries of the plugging economy. Despite the economic stance Northwood Reality Services “mission has remained constant unrivaled service, never-ending respect for customers, uncompromising integrity and ethics (Northwood Realty Services 2011, par.2).” Northwood Realty Services focuses on continuance complacency with the aim of sharing the enthusiasm, safety, reassurance and personal pride of owning a home with the new homeowners based on a trusted and confidence in a real estate agency. Northwood realty services strives on the present low interest rates, programs available for first time homeowners, new appliance discounts and first time homeowners tax credit. Northwood realty services provides guidance in homeownership helping find the ideal home for their customers by knowing the market that...
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...Negotiating is a very important skill in our daily life. In week 11, our tutorial went though the negotiation by a simulation exercise. At the beginning, the role-play case information handed out to all class and we asked to read prior to participating in the negotiation exercise. This was a case about reaching an agreement between Chinese and American organization. I was assigned by Dr Paul into a Chinese team with two other Chinese teammates in this role-play simulation. After carefully read through the information, the final objective for our Chinese negotiators were to persuade the American companies’ negotiators to give us at least 51% of total control in our joint venture project. Before negotiate with the American team, our teammates exchanged own ideas and found some important aspects of our Chinese companies. Although after nearly one hour’s negotiation with American team, both of parties did not reach a mutual agreement at the end of role-play. In actually, our team was not satisfied with this result and I rethink about the process of negotiation, there were several problems noticed by me for this happened through the exercises of role-play. First, the opposite American teammates targeted at a strong target objective at 60%, we did describe a lot about our benefits to them, but the opposite team really got a consistent goal and never changed their mind. Moreover, they always emphasized their immense technology is the best in the world which was really vinegarish...
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...really know what they exactly mean by that. One thing i am sure about is that I am an ever smiling person. I can always find a lighter side of any situation or a scenario. I don’t really cry on what life has done with me or has in store for me. Even the fact that my disability comes in way of many things I want to achieve, but I view my physical disability as my strength which challenges me to make that very effort which would take me to success. I believe that I am good negotiator when there is my own interest in a situation. In another situation where other’s interests are more important I can very well act as a “good-cop-bad-cop”. I believe in making a distributive king of a negotiating is very important. There is a strong believe within me that harmony and peace should be there while negotiating to claim anything. I never use Tactics like intimidation in any type of negotiation nor do I appreciate the use of intimidation against me. I find it insulting. MBTI test result shown in the class totally resembles me as a...
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...I M P R O V I N G T H E P R A C T I C E O F M A N A G E M E NT Negotiation is not a competitive sport By Steven P. Cohen Reprint # 9B04TD05 IVEY MANAGEMENT SERVICES • July/August 2004 COPYRIGHT © 2004 To order copies or request permission to reproduce materials,please contact: Ivey Publishing,I vey Management Services c/o Richard Ivey School of Business The University of Western Ontario London,Ontario N6A 3K7 Tel: (519)661-3208 Fax: (519)661-3882 Email: cases@ivey.uwo.ca Ivey Management Services prohibits any form of reproduction,storage or transmittal of this material without its written permission.This material is not covered under authorization form CanCopy or any other reproduction rights organization. Ivey Business Journal Online is published by Ivey Management Services a division of the Richard Ivey School of Business. For subscription information,please contact: Tel: (519) 661- 4215 Email: ibjonline@ivey.uwo.ca or visit www.iveybusinessjournal.com Negotiation is not a competitive sport Taking a hard line may be fine -- but only in the short term, and only if you really believe that your counterpart is your adversary. But negotiation is often a series of episodes, which means that considering your counterpart as a partner or a collaborator is the foundation of trusting and fruitful-- and ongoing -- negotiation. How the game is played matters more than who wins. puts itself in a position it can't get out of without losing face. This is as true in international...
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...Salt Harbor Exercise The Salt Harbor exercise was a real world negotiation exercise that added many factors into the decision making. In this exercise, Lukas and I were partners. Lukas was the buyer and I was the seller. In this negotiation, I had recently purchase some property that I wanted to build into a coffee shop. The neighbor, who is also the buyer, did not want me to build the coffee shop and instead wanted to purchase the property. Lukas stopped me from being able to build the coffee shop through legal channels. I was given the option to take my chances in court or attempt to tell the property to Lukas and open my coffee shop at another location. ------------------------------------------------- This exercise was challenging because, like any real world situation, there was varying degrees of information asymmetry that made negotiating challenging. We were both looking to get more information out of the other person in order to be in a better position to negotiate. What made this exercise even more interesting is that it simulated a real world situation that two people would deal with every day. This made it easier to understand the underlying implication of the exercise as opposed to the first exercise. ------------------------------------------------- My Strategy: My initial strategy was to see what Lukas would offer first before I made a bid. Even though I risked being anchored, I want to gather as much information about him and the decisions he is making...
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...business. Ireland Ireland is a nation emerging as a great place for the United States to conduct business. The relationship of the United States and Ireland are deeply based on shared values and common ancestral ties. These ties help breakdown communication issues that could occur in other dissimilar countries when trying to negotiate business. In addition to shared values, these two countries have similar cultures, as well as similar needs and wants in relation to consumer purchasing history, which makes the exchange of business easier, more lucrative and less risky. Economic Overview Ireland is a small, modern, trade-dependent economy, which experienced strong growth until the world economic downturn in 2008. Over the last few years, Ireland has been positioning itself for growth as the world economy improves. Agriculture, once the most important sector, has mostly been replaced by industry and services. Industry makes up 46% of the GDP, 80% of exports, and 29% of the labor force. Although exports remain the...
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...values and competition between resources… there are no single ‘best’ options for any player in this game, for the ‘best’ outcome depends on what others do and what deals are possible.” (Davis et.al., 1993) 1. INTRODUCTION “Pure” conflict defined as the existence of competing interests between parties in absence of interests that are shared, is an anomaly in international relations where the defining feature of the relationship between states is mutual dependence. Such was the observation of Thomas Schelling, noted international economist, during the height of the Cold War. In the decades that have since transpired, globalizing developments in technology, communications, finance and trade have given rise to a world in which citizens, organizations and governments engage in millions of trans-national interactions on a daily basis. In the modern age, the need for developing mechanisms and skills to manage daily exchanges has grown, as has the necessity for smoothly navigating through the impasses that arise when the satisfaction of one nation’s interests, values or goals depend on the actions or intentions of another. At the national level, policies must address, and if possible, resolve tensions between the often divergent interests of an array of...
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